$57.$ I plan to raise the monthly rent by $20$ percent in my apartment complex located in

San Francisco. I will tell my renters if they don$$t like it$,$ then they can pack up and

leave by the end of the month.

A$.$ I have just violated the AB $1482$ law.

B$.$ I have just violated the NIMBY law

C$.$ I have just violated RESPA

D$.$ This is a perfectly acceptable practice in California as of $2023$ and the Ellis Act

protects the landlord who owns an apartment building.

$58.$ On an ARM loan, what does a $10/1$ ARM mean?

A$.$ The rate is still fixed for $30$ years, this just means that during the first $10$ years the

lender has the right to increase the monthly payment in order to adjust the

amortization schedule.

B$.$ This means your rate and monthly payments stay fixed for $10$ years, then can

adjust up or down at the end of $10$ years based on the going interest rates.

C$.$ This just means that you have an opportunity to make $$interest$-$only$$ payments

during the first $10$ years.

D$.$ This type of loan is now illegal and was banned by the Dodd$-$Frank law.

$59.$ What is Private Mortgage Insurance or PMI?

A$.$ The borrower must obtain this insurance whenever they purchase a home

regardless of the downpayment. This insurance protects the lender.

B$.$ The borrower must obtain this insurance whenever they put down less than $20$

percent and if they do not have secondary financing.

C$.$ This is simply fire and hazard insurance. Of course, the borrower must buy it$.$

D$.$ This is an optional investment offered to the borrower. If the house is damaged by

fire, earthquake, etc..., then they will get a guaranteed payout from the lender if

the house is a total loss.

$60.$ The Inflation Rate measurement known as $$Core CPI$$ eliminates two volatile

factors. Which volatile factor listed below are taken out of Core CPI?

A$.$ Food & Energy Prices

B$.$ Stock & Bonds Average Prices

C$.$ Housing Values & Average Mortgage Payments

D$.$ Education & Medical Costs